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The cases involved how Bank of America handled consumer claims of unauthorized transactions on an unemployment benefits prepaid card program in 12 states.
Everyone knows that Bank of America has nearly buckled under the weight of costs from litigation and extrajudicial settlements over the last few years, the majority of which relate to its ill ...
Under the terms of the deal, Bank of America will pay $165 million to settle allegations that it "downplayed risks of poor-quality mortgages packaged into securities" that were then sold to credit ...
Tom Robinson, chairman of NACS and president of Robinson Oil, said, "This proposed settlement allows the card companies to continue to dictate the prices banks charge and the rules that constrain the market including for emerging payment methods, particularly mobile payments. Consumers and merchants ultimately will pay more as a result of this ...
Bank of America Merchant Services was created by Bank of America and First Data in 2009. [2] Bank of America Merchant Services manages sales and customer service and First Data handled the transaction processing. [1] In 2013, the company was the largest U.S. merchant acquirer by Visa and Mastercard volume, processing $517 billion in payments. [2]
Bank of America has formed a partnership with the United States Department of Defense creating a newly chartered bank DOD Community Bank [106] ("Community Bank") providing full banking services to military personnel at 68 branches and ATM locations [107] on U.S. military installations in Guantanamo Bay Naval Base Cuba, Diego Garcia, Germany ...
This is the fifth and final article in a series on Bank of America's legal problems since the financial crisis. Links to the rest of the series are at the bottom of this article.
In the U.S. legal system, service of process is the procedure by which a party to a lawsuit gives an appropriate notice of initial legal action to another party (such as a defendant), court, or administrative body in an effort to exercise jurisdiction over that person so as to force that person to respond to the proceeding in a court, body, or other tribunal.
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